Although the prospects for recovery in the US manufacturing industry are still unclear, green energy is less affected by the economic crisis and has become the hope of US manufacturing.
On January 8, US President Barack Obama announced a $2.3 billion tax incentive for green energy manufacturing. The tax benefit will be distributed to 183 green energy manufacturing projects in 132 US companies.
The tax benefit program comes from Obama’s $787 billion emergency stimulus package signed in February 2009. This is the biggest green energy source since Obama took office, and the White House is still negotiating with Congress to increase the $5 billion tax incentives.
According to data published on the White House website, there are eight major types of green energy companies that are favored: (1) solar, wind, geothermal, or other renewable energy equipment (2) power grids and renewable energy storage (3) fuel cells and Micro Turbine (4) Electric or Hybrid Vehicle Energy Storage System (5) Carbon Dioxide Capture and Storage Equipment (6) Refining or Mixing Renewable Fuel Equipment (7) Energy Saving Equipment, including Lighting and Smart Grid Technology (8) Plug-in Electric Vehicle Or its components, such as electric motors, generators, and power control devices.
Solar-related companies have received the most tax benefits. Hemlock Semiconductor Corp and Wacker Polysilicon North America LLC received $140 million and $130 million in tax incentives to expand polysilicon production plants. Polysilicon is the main raw material for solar panels. United Technologies Corporation received $110 million to transform the plant to produce a more energy-efficient aircraft engine.
The US Xunli Solar Energy Co., Ltd. received a tax benefit of $34.5 million this time. The company’s president and founder, Deng Xunming, said in an interview with China Business News that “this tax incentive for manufacturing companies has provided great financial assistance for our next phase of growth.â€
With more than 100 employees, the company's facility in Dorondo, Ohio, is in the early stages of portable solar panel manufacturing.
However, there are also different opinions on this measure.
The New York Times columnist Tom Friedman has spared no effort to promote innovation in green energy in the United States. However, he believes that the United States cannot outperform China in the manufacturing of green energy. He believes that China and the United States should be partners. “The United States specializes in energy research and innovation, as well as venture capital and service new energy technologies, and China is not good at it, and China can focus on mass production,†he said.
Editor: China Lighting Network Feng Yaoyuan
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